Greater Grays Harbor

Letter of Intent Filed for Grays Harbor Paper

April 18, 2012

Dick Hooper

President, Pivotal Solutions, Inc.

Greater Grays Harbor, Inc. is cautiously optimistic to announce that a letter of intent to purchase Grays Harbor Paper has been filed with the courts and is now a matter of public record. This is the result of extensive negations led by Dick Hooper and Marcia Frey (RADIO: pronounced “Marcy Fry”) of Pivotal Solutions, Inc.

Greater Grays Harbor, Inc., has been working with our partners, including the Washington State Department of Commerce, the Department of Revenue, Grays Harbor PUD, Pivotal Solutions, and creditors for the sale and reopening of the mill.

The receiver, Dick Hooper, President of Pivotal Solutions, stated he is “optimistic that we will accomplish the sale,” Tim Gibbs, CEO of Greater Grays Harbor, Inc., reported at that organization’s annual State of Grays Harbor meeting. “He hopes to have a signed agreement in the next 7-10 days.”

“The potential sale and reopening of Grays Harbor Paper would be a tremendous win for the City of Hoquiam and our local merchants. I personally am hopeful the balance of the details can be worked out to the best result for everyone and we have a definitive agreement very soon,” said Randy Ross, Account Executive for The Durney Agency and Co-Chair of Greater Grays Harbor, Inc.

“We are encouraged by the progress that has been made towards the sale of Grays Harbor Paper. Obviously it's not a done deal at this point, but this is a strong first step towards bringing back jobs and prosperity to the Harbor," said Leonard Barnes, Deputy Director of the Port of Grays Harbor, Co-Chair of Greater Grays Harbor, Inc. "We are also very proud of the hard work Greater Grays Harbor has put into helping bring negotiations to this point," he added.

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